Procedure for obtaining Licence

(1) An application for licence shall be made to the licensing authority in such form as may be prescribed and shall be accompanied by such fees not exceeding Rs. 10,000 as may be prescribed. (2) Where before the commencement of this Act, any person was carrying on any industry, such person shall apply for licence under sub-section (1) and may be entitled to continue to carryon such business without a licence in respect of such industry- (a) for a period of six months from the date of publication of this Act in the Official Gazette; or (b) if before the expiry of said six months, such person has made an application for grant of licence under this Act for such industry until the final disposal of his application. (3) On receipt of the application for licence, the licensing authority may either grant or refuse a licence: Provided that no licence under this Act shall be granted if the licensing authority for reasons to be recorded in writing, is of opinion that granting of such licence shall be against the public interest.